The kiwi rose 0.10 percent to $0.619, while the Australian dollar gained 0.22 percent to $0.672. On the other hand, the fund exited five companies, namely Cisco, Berkshire Hathaway, Booking, Union PacificCorp.(UNP), and CNQ, along with theReal Estate Select Sector SPDR Fund and the Materials Select Sector SPDR Fund. Is Wiltons new coronation menu fit for a king? Chinas gross domestic product grew 4.5 percent year-on-year in the first three months of 2023, data showed on Tuesday, beating analyst forecasts for a 4 percent expansion as the end of COVID-19 curbs lifted the worlds second-largest economy out of a slump. [1/4]Small figurines are seen in front of displayed Alphabet logo in this illustration taken February 11, 2022. "Given the sharp moves of late and little tier-1 economic data to guide this week, we should expect gold to consolidate in the $1,980-$2,020 range," said OCBC FX strategist Christopher Wong. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year, roughly in line with the International Monetary Fund's 5.2 percent forecast. [59][60][61][62], LIV Golf's strategy differed from other leagues as it offered the richest golf tournaments in history and was able to convince star players to take part. [7], In July 2014, the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval. Public Investment Fund is based out of Riyadh. It also revealed stakes worth between $480 million and $500 million in Disney, Cisco, and Suncor Energy. SWFI is a minority-owned organization. Public Investment Fund of Saudi Arabia (PIF) is a Sovereign Wealth Fund located in Riyadh Saudi Arabia, Middle East, and was founded in 1971. "[33], In October 2017, it was announced that PIF would aim to increase its assets under management to more than $400 billion and create more than 20,000 new jobs by 2020. No affiliation or endorsement, express or implied, is provided by their use. Public Investment Fund Follow Saudi Arabian Investment Company J.S.C.C Follow DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state. It gave no possible investment targets for either Sanabil or the PIF. Public Investment Fund has met the qualifications for inclusion in our WhaleScore system. MIS will be responsible for the supply and integration of the audio, visual, digital signage, and smart services solutions . Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. We will rely on trusted foreign partners. BPs chief economist sees oil market tightening in H2 2023 If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. [1]: All Rights Reserved. [65] Dustin Johnson was allegedly paid $150million to join the Saudi-backed series. Apr 10 In line with #SaudiVision2030 's goal to enable the private sector, #PIF aims to increase its local content contribution to 60% by 2025. Although Mohammad bin Salman is the chairman of PIF, PIF has denied "any suggestion that the decision-making or conduct of the board of PIF is unduly influenced (or influenced in any way contrary to the principles of good governance) by the crown prince." We use Ken Cheung at Mizuho Bank said domestic consumption "proved to be the pillar" behind the economic improvement, but "industrial production was disappointing given the strong rebound in exports growth". NEW DELHI:India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscows invasion of Ukraine. personalising content and ads, providing social media features and to Spot gold was up 0.3 percent at $2,000.09 per ounce, as of 0642 GMT. for PUBLIC INVESTMENT FUND, Top 20 equal-weighted holdings. Shell restarts Pierce field operations in the UK North Sea RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdoms sovereign wealth fund, said Crown Prince Mohammed bin Salman on Sunday. The crown prince revealed that the state remains Aramcos biggest shareholder, owning 90.18 percent stakes in the firm, Saudi Press Agency reported. Exclusive news, data and analytics for financial market professionals, Reporting by Hadeel Al Sayegh USgold futures rose 0.2 percent to $2,010.20. Their last reported 13F filing for Q4 2022 included $30,938,670,069 in managed 13F securities Crude oil stored in the US Strategic Petroleum Reserve fell by 1.58 million barrels last week to its lowest in nearly 40 years, data from the Department of Energy showed, on a mandated sale of oil from the emergency stash. "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels," Teeuwe Mevissen, an analyst at RaboBank, said. The Public Investment Fund reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020.The Kingdom's sovereign wealth fund acquired 13 million shares in Canada's NovaGold for $154.6 million, it said in a filing to the US Securities and Exchange Commission (SEC). [23] In 2020, PIF purchased minority stakes in major U.S. companies including Boeing, Facebook and Citigroup. Markets are pricing in a 91 percent chance of the Fed raising interest rates by 25 basis points at its next meeting in May, the CME FedWatch tool showed, with traders expecting rate cuts toward the end of the year. It also divulged its direct investment portfolio, which included the machine learning-based discovery engine Atomwise, customer experience software company ActionIQ and cybersecurity platform Vectra, to name a few. "As a result, a smooth transition in COVID-19 prevention and control to the new phase was secured in a relatively short time," the report said, adding "the production and demand registered a stable recovery, employment and prices". [14] The shares for the second 4% stake in 2023 were valued around $73 billion. OriginalWhaleScore Fund's Sanabil Investments arm publishes first list of partners. offers FT membership to read for free. DUBAI, Aug 16 (Reuters) - Saudi Arabias Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund's investment portfolio to about $40.8 billion at the end of the second quarter. When neighboring petrostates began using their sovereign wealth funds for influence, Saudi Arabia followed them. 0:38 2K views 13 24 62 This will schedule a job to export all requested 13f holdings data for this filer. cookies Meanwhile, top bullion consumer China's economic recovery gathered pace in the first quarter as the country's gross domestic product grew 4.5 percent year-on-year, beating expectations. Currently, the sovereign fund owns 71 companies in 10 different sectors, creating more than 500,000 direct and indirect jobs. Yasir Al-Rumayyan also admitted that of the $35 billion spent by the PIF as part of this activity, it soon rose to $49 billion when markets rose. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. containing a link to download the .zip file of the CSV file(s) you requested. for 300m had been agreed between incumbent owner Mike Ashley and a prospective buying consortium consisting of the Public Investment Fund, PCP Capital Partners and Reuben Brothers. All quotes delayed a minimum of 15 minutes. sovereign wealth funds and state-business relations in Saudi Arabia", "Revealed: Newcastle chairman's links to Saudi 'anti-corruption' drive", https://en.wikipedia.org/w/index.php?title=Public_Investment_Fund&oldid=1150310358, This page was last edited on 17 April 2023, at 11:53. [71], Phil Mickelson also gave a controversial statement saying, the Saudis are "scary motherfkers to be involved with". "[73], In 2022, PIF made a $1.5 billion investment in Credit Suisse as part of a broader goal of to diversify its portfolio into global banking. A free trade deal will mark a step up in India-Russia economic relations as New Delhi maintained expanding ties with both Russia and the West amid the war in Europe, which it has not explicitly criticized. Saudi Arabias Public Investment Fund has bought $8.2 billion worth of new investments in global stocks. [8] [9] $100 billion was raised with PIF contributing $45 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple. 2023 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement. Read more: 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over and warns 'a lot more pain' is still to come. The Kingdom didn't have diplomatic relations with Israel and was neither a part of the Abraham Accords. The global oil market will likely tighten in the second half of 2023 after the recent decision by the Organization and Petroleum Exporting Countries and its allies, known as OPEC+, to cut oil production, according to Spencer Dale, BP plcs chief economist. It is among the largest sovereign wealth funds in the world with total estimated assets of US$620billion (514billion). Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. The data added to bets of an interest rate hike by the Fed at its May meeting. ? RIYADH: Gold prices rose on Tuesday after two sessions of losses as the dollar eased, while investors sought more clarity on the USFederal Reserve's monetary policy stance. FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. The latest filing also confirmed reports that the fund invested in a range of European oil companies last quarter. "[7] As the PIF is a ministry-operated company with an overwhelming focus on domestic investments, some scholars characterize it as a "quasi-sovereign wealth fund. Performance numbers calculated through 2023-02-14. Separately, PIF has invested $3.5 billion in Uber in 2016, and its managing director Yasir Al Rumayyan sits on the company's board. DUBAI, Aug 16 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks,. Our Standards: The Thomson Reuters Trust Principles. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. They want to invest in it whether or not it goes through, whether or not there is any possibility of succeeding., This transfer of stakes is a part of Saudi Arabias long-term initiatives to boost and diversify the national economy. Lists Featuring This Company Venture Capital Investors with Investments in Moscow City 206 Number of Organizations $15.7B Total Funding Amount 52 Number of Investors Track Finance Companies With More Than 10 Employees (Top 10K) [1], In 2021, PIF invested $1billion in the investment fund established by former Donald Trump administration official Steven Mnuchin just after he left government. [56] The attempted takeover was "a blatant example of Saudi sportswashing", according to Kate Allen of Amnesty International UK. The 25 new investments by the sovereign wealth fund have been made mostly in companies whose industries have been negatively affected by the market crash due to the coronavirus pandemic. [15], The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in Uber (for $3.5billion), and a 5% stake in the video game companies Capcom and Nexon (for $1billion). [47] This will be the first known time that money from the Saudi's sovereign wealth fund will go to Israel. 2008-2023 Sovereign Wealth Fund Institute. Standard Digital includes access to a wealth of global news, analysis and expert opinion. The Public Investment Fund (PIF) is building a diversified portfolio by investing in attractive, long-term opportunities locally and internationally. In Fitch's view, SRC is ultimately controlled by the state through PIF, so Fitch directly links the rating to the state under the . Saudi Aramcos 4% stakes transferred to PIFs Sanabil Investments, Oil Updates Crude prices edge up; BPs chief economist sees oil market tightening in H2 2023, Gold rises on dollar pullback; clarity on Fed policy awaited, Chinas economy rebounds after zero-Covid scrapped, Dollar pauses for breath as China GDP beats estimates, India, Russia to intensify talks on free trade pact with Moscow-led bloc, Saudi Arabia reports 355 new COVID-19 cases, Saudi Arabia reports 153 new COVID-19 cases, Saudi Arabia reports 280 new COVID-19 cases, 2 deaths, KSA reports 87 new COVID-19 cases, 1 death, Tunisian authorities ban meetings at opposition Ennahda party offices, Saudi basketball player opens door for next generation of female ballers, Ramadan recipes: A Maldivian take on maqluba for an Eid Al-Fitr party treat, Egyptian filmmaker Haya Khairat to wincinematographyaward at Cannes Film Fest, For Palestinians, holiest Ramadan night starts at checkpoint, Kings leave Warriors in hole, Sixers take 2-0 lead, Aramco, Saudi Coffee Co. ink deal to improve the brew in the Kingdom, Aramco JV breaks ground on China petchem complex, Gold gains on dollar pullback; investors weigh Fed rate hike prospects, China auto show highlights intense electric car competition, Dollar falls after weak retail sales data, Ukraine rejects Iraqi offer to mediate talks with Russia, Elon Musk says hell create TruthGPT to counter AI bias, Japans ambassador to Iraq meets Iraqi PM, encourages private sector investment, Cairo working around the clock to safeguard Egyptians caught up in Sudan crisis, Egypt faces a diplomatic challenge as Sudan plunges deeper into crisis, Runaway growth of AI chatbots portends a future poised between utopia and dystopia, New Delhi maintains expanding ties with both Moscow and the West, Russian deputy PM is on two-day visit to New Delhi. If Saudi Arabia wants to use the game of golf as a way for them to get to where they want to be, I think we're proud to help them on that journey. All quotes delayed a minimum of 15 minutes. It saw 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year. Tuesday's NBS report said in the first three months of the year China had faced a "grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home", but that economic stability was Beijing's "top priority". These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. All material subject to strictly enforced copyright laws. PIF maintains a leading and impactful investment strategy in line with Vision 2030, to drive Saudi Arabia's economic transformation through active, long-term investments and high standards of governance and transparency. 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